Vert Asset Management LLC Takes Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Vert Asset Management LLC purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,144 shares of the financial services provider’s stock, valued at approximately $428,000.

A number of other large investors have also added to or reduced their stakes in ALEX. Jane Street Group LLC lifted its holdings in shares of Alexander & Baldwin by 61.2% during the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after acquiring an additional 35,916 shares during the period. HighTower Advisors LLC bought a new stake in Alexander & Baldwin during the third quarter worth $1,151,000. Victory Capital Management Inc. boosted its holdings in shares of Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after purchasing an additional 29,006 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alexander & Baldwin by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after purchasing an additional 23,441 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after buying an additional 111,392 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

Alexander & Baldwin Stock Up 1.3 %

Shares of NYSE ALEX opened at $17.88 on Tuesday. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market cap of $1.30 billion, a PE ratio of 28.83 and a beta of 1.29. The company has a 50 day simple moving average of $18.34 and a 200 day simple moving average of $18.78.

Alexander & Baldwin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $0.2225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a yield of 4.98%. Alexander & Baldwin’s payout ratio is 145.16%.

Alexander & Baldwin Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.